Nina Kaufman Dishes on Fox News About Borrowing Money from Parents For Your Biz
By Nina Kaufman, Esq.As a business owner looking to grow, there may have been times when you’ve been strapped for the cash you need to scale your business. (Now, perhaps?) Instead of turning to traditional methods of loans or angel investors, you might be thinking of going to the Bank of Mom and Dad, or another person with whom you have a close, open relationship.
Mixing a relationship with cold, hard cash can be a recipe for disaster. In my interview as an expert on Fox News, I identify the few simple steps you can take to ensure this is a successful business transaction, where expectations are made and met … and everyone ends up happy – no bad blood here!
In just under 3 minutes, you will learn:
– The hidden reasons parents don’t tell their kids about why they’re lending the money
– Why you should always outline expectations (yes, in writing!) and never assume
– If you’re the one asked, exactly what to say if you don’t want to lend the money at all
Nina Kaufman appears on Fox News from Nina Kaufman on Vimeo.
Have you ever considered borrowing money from friends or family to start or grow your business? What was the outcome? How did it help – or hurt – your relationship?
You deserve to be paid, protected, and prosperous. Kaufman Business Law can help get you there. Watch this short video to find out how.
